The Trend in Home Sales in Fall River MA - Improving, or...?
Home prices in Fall River on average are falling! Home prices have fallen 9.6% since July of 2009.
The current average listing price of homes for sale in Fall River MA is $219,752, down 3.1% from a month ago. Compare this to the current median sales price of $160,000 - where half of sales are above this amount and half below it.
2, 3 and 4 bedroom homes are selling for less. Prices of 2 bedroom homes are down 14.1% while prices of 3 bedroom homes are down jut 0.2% and 4 bedroom homes are down just 0.8%. from year ago levels. Below is a chart of the trend of median prices of homes for sale in Fall River MA over the past 5 years through July 2010:
The number of sales for all homes are up from year ago levels:
So what does all this mean? Well, if you're looking for a home in Fall River, you can probably find a bargain as prices are down significantly the past couple of years. Still, lowball offers won't cut it in a market like this. Still, buyers aren't in control of the market either, so both buyers & sellers should be reasonable when negotiating.
You can still buy a home with no money down with a VA Loan or with a USDA Rural Development Home Loan. With the FHA Mortgage program, you can purchase a home with as little as 3.5% down. With a MassHousing loan, you can purchase a home with as little as 3.0% down. When you're ready to buy a home, find out how much house you can afford to buy in Fall River or in the surrounding area.
Be sure to contact me, Lew Corcoran, toll free at 1-800-941-5616, when you're looking to get pre-approved for a purchase of your next home in Fall River or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.
Lew Corcoran | Search the MLS for: |
